Savings Accounts for Minors


When it comes to your kids, it’s never too early to start saving for the future. Even depositing a few dollars a month will help your child learn how easy saving can be and teach them good financial habits for life. And with dividends, they’ll get to watch their money grow right along with them.

What you need to get started:

The account will be opened in your child’s name, social security number, and date of birth. You, the child’s parent or legal guardian will be listed as the joint account owner.

To start a savings account for your child, you must open the account with yourself as a joint account owner. You will also need to provide proof that you are the child’s parent or legal guardian. You can open the account at your local branch or online with a little documentation.

Documents You’ll Need

  • Minor’s Identification (one of the following) - Social Security card, identification card, birth certificate, or DL or state issued ID (if the minor is old enough to drive)
  • Parental Guarantee of a Minor form (Click to open)
  • Your Identification - Driver’s license or state issued ID.
  • A completed membership application for the minor. Apply online.

You will need to fund the account at opening. 

Accounts earn interest in any month when the balance exceeds $100.

  • 0.25% Annual Percentage Yield
  • $5 Minimum Opening Balance*
  • $100 Minimum Balance to Earn Dividends
  • Dividends Compounded/Credited Monthly
  • One free withdrawal per month

Open an Account

La Cap Savings (Share) Accounts are variable rate accounts. La Cap may change the dividend rate for your account as determined by the credit union Board of Directors. Dividends earned are posted and compounded monthly. Each day your account balance exceeds $100.00, you earn dividends on the entire balance. Applicable fees and conditions could reduce the earnings on your account.

* The minimum opening balance required is $5. A balance of $100 will accrue dividends. Monthly service fees are waived for account owner's under 17 years of age. At age 17, monthly service fees apply.